Eon Bank has yet again shaken the banking industry by launching an innovative home loan that is not based on the BLR but instead pegged against the Fixed Deposit Rates, making it the most transparent home loan rates under its Super Easi 123 Home Loan Fixed Deposit (HLFD).

“With this new option of home loan that is pegged to the Fixed Deposit (FD) rate, which is more transparent, we are setting a new trend to allow customers to plan their finances better,” explains Michael Lor, Group Chief Executive Officer of Eon Bank Group during the launch held in CoChine Restaurant on 2 November 2009.

“Everyone understands fixed deposit (FD) rates because the rates are prominently displayed and disclosed in our banking halls and website.”

The HLFD is available to all customers who want to refinance their property or purchase one with a minimum property value of RM200,000. The ‘flexi’ features that are packaged under the previous Super Easi 123 Home Loan Fixed Deposit will still remain.

According to Lor, Eon Bank hopes to achieve RM200 million in total sales within the period of November 2009 to January 2010. He is confident that they will be able to achieve the target of total sales as well as 10% loan growth easily this year.

“We have put in place four essential pillars for success for growing our home loans – faster and simple processes; transparent and competitive pricing; a more robust distribution capacity via our re-invigorated branches and Mortgage Direct Sales Marketing Team; as well as exciting products and campaigns,” says Lor.